It is somewhat unfortunate that so many of my sentiment indicators take advantage of the wrong-way nature of so many market participants, but remember, when you are calling bottoms you have to believe that all hope is extinguished, and so therefore everyone who has to sell has already sold.

Her situation was too distant from the European markets; and the raw materials landed at Lisbon were transshipped in Dutch bottoms for Amsterdam and Antwerp, which became the true centers of manufacturing and exchange.